Acadia Healthcare Shares Down 18.7% Despite Q3 Earnings Beat
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Acadia Healthcare's shares fell by 18.7% despite surpassing Q3 earnings expectations, due to higher patient days and improving volumes. However, the closure of two facilities led to a reduction in the company's 2024 revenue guidance.
November 05, 2024 | 4:45 pm
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NEGATIVE IMPACT
Acadia Healthcare's shares dropped 18.7% despite better-than-expected Q3 earnings due to higher patient days and volumes. The closure of two facilities led to a reduction in 2024 revenue guidance, impacting investor sentiment.
The significant drop in ACHC's share price is attributed to the negative outlook on future revenues due to facility closures, despite the positive earnings report. This suggests investors are more concerned about future growth prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100